BREAKTHROUGHS.€¦ · control and automation products. The acquisition significantly enhances our fluid power and AC&E product platforms. B.W. Rogers is one of the largest and longest

2015

AS WE ENTER OUR 70TH YEAR, OUR FOCUS IS

SQUARELY ON THE FUTURE.

In 1945, Charles Kaman, a self-described “headstrong

twenty-six year old,” founded Kaman Aircraft Corporation

in the garage of his mother’s West Hartford, Connecticut

home. His goal: demonstrate a new rotor concept he

devised to make helicopters more stable and easier to fly.

Within two years the K-125 helicopter was in the air.

Seventy years later, our founder’s spirit of invention and

determination continue to inspire everyone at Kaman.

Pushing beyond the expected to create and deliver

something new and better for our customers is a driving

force behind our continued momentum.

14

282102_CS_NARR_R3.indd 1 2/19/15 1:43 PM

2015

K A M A N C O R P O R AT I O N A N N U A L R E P O R T 2 01 4

ANNUAL REPORT, WE CELEBRATE

70 YEARS OF

2014

BREAKTHROUGHS.BUILDING A FUTURE THROUGH INNOVATION.

IN OUR

20Bloomfield, Connecticut

(860) 243–7100

www.kaman.com

KA

MA

N C

OR

PO

RA

TIO

N A

NN

UA

L R

EP

OR

T 2

01

4

2015



70 YEARS OF

2014


IN OUR


(860) 243–7100

www.kaman.com

KA

MA

N C

OR

PO

RA

TIO

N A

NN

UA

L R

EP

OR

T 2

01

4

194

2015

AS WE ENTER OUR 70TH YEAR, OUR FOCUS IS

SQUARELY ON THE FUTURE.

In 1945, Charles Kaman, a self-described “headstrong

twenty-six year old,” founded Kaman Aircraft Corporation

in the garage of his mother’s West Hartford, Connecticut

home. His goal: demonstrate a new rotor concept he

devised to make helicopters more stable and easier to fly.

Within two years the K-125 helicopter was in the air.

Seventy years later, our founder’s spirit of invention and

determination continue to inspire everyone at Kaman.

Pushing beyond the expected to create and deliver

something new and better for our customers is a driving

force behind our continued momentum.

14

282102_CS_NARR_R3.indd 1 2/19/15 1:43 PM

“ We have always been

a company focused on

the future, developing

strategies that will

enable us to meet the

changing needs of the

industries we serve.”

Neal J. KeatingChairman, President and Chief Executive Officer

282102_CS_NARR_R3.indd 2 2/19/15 1:43 PM

DEAR SHAREHOLDERS,

As you read this letter, Kaman is marking our 70th year in business. There is much to celebrate. We have grown from a single breakthrough idea from a legendary aerospace entrepreneur into a global provider of highly engineered aerospace and industrial products serving a broad range of end markets. Our 4,800 employees in more than 260 locations are among the most dedicated, innovative and loyal anywhere, inspired by the spirit and wisdom of our founder, Charles Kaman.

This important milestone is less a reason to look back than it is an opportunity to look toward the future. How will we sustain—and accelerate—the strong momentum we’ve built up over the past several years? How can we deliver even more value to our customers across all of our businesses? How will we create a more prosperous and more innovative company for our customers, our shareholders, our colleagues and our communities? These are the questions that inspire all of us at Kaman to build on our 70-year foundation to achieve even greater success.

As we enter our eighth decade, we continue to execute on a business strategy that has delivered solid results. In 2014, Kaman reported net earnings from continuing operations of $65.8 million, or $2.37 per diluted share, compared to $59.1 million, or $2.17 per diluted share, in 2013, an increase of 9.2%. Net sales from continuing operations for 2014 increased 8.5% to $1.79 billion, compared to $1.65 billion in 2013. I am pleased that both Aerospace and Distribution

delivered improved margin performance, and that Distribution delivered another year of organic sales growth in a challenging environment. In addition to improved margins, we generated very strong free cash flow during the year: $80.8 million from continuing operations in 2014, compared to $24.0 million during 2013, and 2014 marked the 45th consecutive year of dividend payments by Kaman.

These results reflect our long-term commitment to improving financial performance. We focus on driving strong top-line growth while delivering earnings growth through building scale and implementing operating efficiencies. Increasing cash flow to finance future growth remains a core commitment.

I believe our 2014 results demonstrate that Kaman is strategically positioned for future success. We have an outstanding portfolio of intellectual property and technological know-how across our Aerospace businesses, and our Distribution business is aligned with best-in-class vendors. Our ongoing investments in infrastructure and technology, combined with our relentless focus on innovation and operational excellence, position us to drive greater efficiencies and increase financial performance. Our disciplined acquisition approach continues to play an integral role supporting our strategy while improving the scale, building capabilities and enhancing the financial performance of our company.

DistributionIn the Distribution segment, our three-platform product strategy is beginning to deliver results. The three product platforms—Bearings and Power Transmission; Fluid Power; and Automation, Control, and Energy (AC&E)—differentiate Kaman in the marketplace and enable us to better deliver broader technical solutions to our customers. The success of this strategy is evident in the progress we are making toward our long-term objectives. Distribution revenues from continuing operations rose 11.7% in 2014 to $1.16 billion, from $1.04 billion in 2013, almost double our revenues in 2009. Operating profit from continuing operations for 2014 was $56.8 million, an increase of 22.9% from $46.2 million in 2013. Operating margins from continuing operations reached 4.9% in 2014, up from 4.4% in 2013.

In April we completed the acquisition of B.W. Rogers, the largest single distribution acquisition in Kaman’s history. B.W. Rogers is a broad line distributor of fluid power products, including hydraulic hoses, fittings, pumps, motors, cylinders, valves, pneumatics, machine control and automation products. The acquisition significantly enhances our fluid power and AC&E product platforms. B.W. Rogers is one of the largest and longest serving distributors of Parker Hannifin motion and control products and operates from twenty-one locations in seven states. B.W. Rogers shares our commitment to service, technical expertise, system design and support, and the acquisition provides new industry exposure in the automotive sector. With this acquisition, Kaman owns one of the largest networks of ParkerStores, with thirty locations across the U.S. and Puerto Rico, including a contiguous territory from the Northeast through the Midwest, further strengthening our position and commitment to serve our customers with premium fluid power products and services. The acquisition also added more than 200 talented and dedicated employees to our team.

Our acquisitions over the last several years, including Catching, Minarik and Zeller, continue to perform well. In fact, identifying strategic acquisitions and integrating them into the Distribution platform is a core capability at Kaman, and one that will continue to serve us well in the future.

In 2014 we launched an important growth initiative to hire approximately 50 additional salespeople to accelerate revenue growth and capitalize on market opportunities. We successfully integrated these new salespeople during 2014, and we are confident they will positively impact our 2015 results. During 2014, we also began the rollout of our new ERP system at our AC&E Minarik operations. The rollout represents a significant milestone for the project, and while we experienced near-term challenges, the implementation overall was a success. Distribution’s ERP project is a multi-year investment that will play an important role in reaching our goal of 7%+ operating margins.

Looking ahead, a number of trends hold promise for significant long-term growth in Distribution. On the supplier front, consolidation favors larger national service providers like Kaman. There is an increasing need for value-added services, precisely the type of solutions that we have been building—and delivering—over the past several years. The remarkable increase in factory automation will drive the need for new fluid power and high-speed automation solutions, a trend that fits our core strengths. Finally, despite consolidation among service providers, industrial distribution remains a largely fragmented market, offering opportunities for Kaman to make strategic acquisitions that increase our geographic coverage, product capabilities and overall scale.

AerospaceSimilar to Distribution, Aerospace turned in a solid performance in 2014, continuing a strong five-year run. Revenues for 2014 were $633.0 million, an increase of 3.1% from 2013 revenues of $614.0 million. Operating profit for 2014 was $108.7 million, compared to $102.6 million in 2013, an increase of 6.0%. This represents a five-year compound annual growth rate of 13% in operating profit dollars.

Our Specialty Bearings business continues to deliver outstanding performance. We established a strong position on the Airbus A350 and a number of other new programs that will provide long-term growth. During the year we opened our new state-of-the-art bearings facility in Höchstadt, Germany. This new facility will play an important role in expanding our relationships with Airbus and Boeing and positions the business to capitalize on the strong commercial aerospace outlook.

The first flight of the SH-2G(I) helicopter for New Zealand took place in April and marked a key step in the program that will provide the Royal New Zealand Navy with ten state-of-the-art Seasprite helicopters. The acceptance of the first helicopter by New Zealand took place in early December, and the first three aircraft have now arrived in Auckland. We also signed a contract to support a program to provide Peru with five Seasprites that are currently in the New Zealand fleet. Once the Peru program is completed, the SH-2 flying fleet will have grown by more than 40% in less than three years, providing Kaman with increased service and support opportunities.

We are investing for the future in our Aerosystems business, as highlighted by the opening of a new tooling facility in the United Kingdom last spring. Significant progress has also been made through our One Kaman approach, demonstrating that we are a cohesive, integrated supplier with a broad range of capabilities. One noteworthy milestone:

the first delivery of a 747-8 wing-to-body fairing—on schedule and on budget.

Precision Products had a very good year, led by continued strong orders and volume for the highly reliable joint programmable fuze (JPF). In fact, the JPF field reliability remains high: 99.27% with the U.S. Air Force since its introduction to service. Among significant new orders are contract modifications for the JPF with the U.S. Air Force worth $94 million; these resulted in a JPF backlog at the end of the year of approximately $115 million. In addition to the U.S. Air Force, for which Kaman has been the sole provider of the JPF since 2002, Kaman provides the JPF to twenty-six other nations.

The unmanned K-MAX® completed its life-saving work in Afghanistan and returned to the U.S. after a very successful 33-month deployment. We continue to work with our partner Lockheed Martin toward establishing a program of record for the acquisition of additional unmanned K-MAX® aircraft by the U.S. Government. In addition, we are exploring the potential for utilizing the transformational capabilities and technology of the unmanned K-MAX® to fight forest fires for the U.S. government. Finally, we are assessing the market potential for new build K-MAX® aircraft for the commercial market, and are in discussions with several prospective customers.

A number of industry trends point to opportunities for Kaman Aerospace in the coming years. OEMs and Tier 1 manufacturers are increasingly turning to outsourcing partners to boost their operating efficiency and improve quality. New platforms have higher bearing content, and increasing commercial build rates are driving bearing and aerostructure revenues. We expect defense spending to remain under pressure, but believe new commercial programs will continue to provide offset to headwinds in defense spending.

Operational ExcellenceAcross both Distribution and Aerospace, we have a rigorous focus on improving our operations so that we can deliver increased value to our customers while achieving greater efficiency. Our ERP expenditures in both segments exemplify our commitment to making the investments that will deliver real operational improvements in the future. Our new facilities in the United Kingdom and Germany will similarly drive leaner, higher quality operations. We continue to invest heavily in automation technologies such as robotics to improve quality while reducing production costs. Together these investments enable us to remain competitive in the marketplace and continue to improve operating margins.

Operational excellence is about more than processes, facilities and technology. It is about people. We continue to invest in developing the industry’s finest team and instilling a high performance culture across our global operations. We remain committed to our Kaman Leadership Development Program and have instituted curricula in supply chain management, technical sales and engineering and program management.

Building for the FutureBeyond financial performance and the success of any one program, 2014 demonstrated the strength of our long-term strategies, which focus on four overarching imperatives: developing strong leadership, growing organically, focusing on operational excellence, and executing on strategic acquisitions. In Distribution, our three-platform product strategy, with a $35 billion addressable market, shows tremendous promise for the future. In Aerospace, our unique set of proprietary products and capabilities has made us a critical part of the global aerospace market, and has led to a robust pipeline of future opportunities.

As we enter our eighth decade, coming off a strong year across the company, the words of our founder seem particularly appropriate:

“Today’s products and services are sophisticated, complex and involved far beyond the most visionary expectations I had as our first product, the K-125 helicopter, first flew in January 1947. But what we built then and what we do now both represent the very highest degrees of excellence, innovation, quality and technical sophistication of their times. I firmly believe that our accomplishments will continue indefinitely.”

— Charles H. Kaman

Excellence. Innovation. Quality. Technical sophistication. These are the pillars upon which Kaman has been built over the past 70 years. And they will be the pillars of our future growth.

As always, I am deeply grateful for the loyalty of our customers, the talent and dedication of our employees, the support of our Board of Directors, and the confidence of our shareholders.


“ One of the first steps in any new endeavor is overcoming the discouraging advice that it can’t be done.”Charles H. KamanFounder

TODAY we continue to find

inspiration in the words and spirit of our

founder. Innovation drives every facet of

our business, from finding new ways to

increase efficiency to improving customer

service to creating new solutions that

make our customers more successful.

19741965

A problem with salt corrosion

from maritime missions on the

SH-2 fleet in Vietnam led Kaman

engineers to invent the KAcarb

self-lubricated airframe bearing.

This was the start of what became

Kamatics, whose self-lubricated

bearings are now used on virtually

every aircraft manufactured today.

Kaman engineers develop the

next generation bearing liner

system, Teflon-based KAron,®

which has proven effective in the

most demanding aviation, marine,

and industrial applications.

BREAKTHROUGH TECHNOLOGY

CELEBRATING 70 YEARS OF INNOVATION

BREAKTHROUGH TECHNOLOGY

TODAY Kaman Specialty Bearings continues to build on the

breakthrough innovations of earlier generations. Through six decades,

our consistently reliable products have provided longer life and lower

maintenance costs, even in areas of high moisture, fluid/debris

contamination and elevated temperatures. In 2014, we opened a new

facility in Höchstadt, Germany, which doubled bearing manufacturing

capacity in Europe and provides a state-of-the-art platform for creating

a new generation of innovations in bearings and engineered products.

ENGINEERING EXCELLENCE

2010-20141957

Kaman pioneers pilotless

helicopter flight with the HTK-1,

the world’s first remote control

helicopter. The modified HTK-1

builds on the hands-off flying

already possible with the HTK. A

broadcast of the flight on the “You

Asked for It” television program

captures public imagination.

The K-MAX® unmanned aircraft

system from Kaman and

Lockheed Martin enables Marines

in Afghanistan to deliver supplies

day or night to precise locations

without risking the lives of pilots.

The K-MAX® carried more than

3.5 million pounds on over

1,300 missions.


ENGINEERING EXCELLENCE

TODAY the spirit of innovation that led to the first unmanned

helicopter flight lives on in the engineers of Kaman Aerospace.

This is why aviation leaders and governments continue to work with

us. Most recently, we demonstrated to the U.S. Forest Service of the

Department of the Interior how the unmanned K-MAX® can be used

to fight forest fires, with the potential to reduce loss of life to both

pilots and firefighters.

OPERATIONAL EXCELLENCE

1950s

Beginning in the 1950s, the

world’s largest and best-known

aerospace companies have

looked to Kaman as a reliable

partner for sub-contracting.

Among our earliest contracts were

agreements to produce parts for

the McDonnell F-101, Grumman

aircraft, and others.

1986

Kaman begins producing the

fixed trailing edge assembly for

the 767. To date, Kaman has

delivered more than a thousand

767 assemblies to Boeing.



TODAY the pursuit of operational excellence continues to

drive everyone at Kaman Aerospace, leading to deeper relationships

with the world’s top aerospace companies. Our early work for Boeing

on the fixed trailing edge has led to a new contract with Boeing on its

767-based KC-46A U.S. Air Force tanker. Our contract with Boeing

for the manufacture and assembly of two major sections of the

747-8 wing-to-body fairing, part of a long-standing and expanding

relationship with Boeing, is ahead of schedule and under budget.

19921945

VISIONARY LEADERSHIP

With the appointment of

Jack Cahill as president,

Kaman Industrial Technologies

is unified under a common

name, IT platform and

distribution network … and

growth accelerates.

“What makes Kaman different is

people. Now, you can go to a lot

of companies and you just don’t

find the spirit, the dedication,

the willingness to work and

achieve, and the satisfaction in

achievement, that you find here.”

Charles H. Kaman


VISIONARY LEADERSHIP

TODAY outstanding talent has been instrumental in the growth of

Kaman. Two leaders, one a Kaman veteran, the other new to the company,

exemplify this. Rob Paterson, President of Kamatics, joined Kaman in

1980 as a second generation employee. Rob has led his division to global

leadership and is a superb ambassador for the spirit of innovation and

partnership that have characterized Kaman since our founding.

In 2014, Tribby Warfield was named Senior Vice President and General

Manager of the Fluid Power platform of our Distribution segment. Tribby

joined Kaman from Gates Corporation, where she most recently served

as President, North American Commercial.

A COMPLETE PLATFORM1971 2011

Kaman acquires Catching Fluid

Power, a leading tri-motion

distributor of Parker Hannifin

fluid power products based

in Bolingbrook, IL. With this

acquisition, Kaman is recognized

as a value-added reseller of

Parker products across the U.S.

With the acquisitions of Reliable

Bearing and Supply Co. of San

Bernardino, CA and Western

Bearings Inc. of Salt Lake City,

UT, Kaman enters the industrial

distribution business.


A COMPLETE PLATFORM

TODAY Kaman Distribution is one of North America’s largest

industrial distributors, focusing on three robust platforms: Bearings and

Power Transmission; Fluid Power; and Automation, Control, and Energy.

Together, these platforms address a $35 billion market.

Kaman brings added value to customers by offering single-source

responsibility and accountability for a comprehensive portfolio of product

lines. With a reputation for leadership and technical expertise, Kaman

offers solutions that go beyond the role of a traditional product provider

to deliver a reduction in the total cost of doing business.

SUPERB CUSTOMER SERVICE

19991976

Kaman begins a relationship

with a $6 billion global consumer

products company by supplying

a single location—a northeastern

paper mill.

The relationship with the

customer has grown steadily,

resulting in a National Account

agreement to supply all of the

company’s manufacturing

facilities throughout the U.S.

and Canada.


SUPERB CUSTOMER SERVICE

TODAY the global consumer products company, with sales

in excess of $80 billion, is Kaman Distribution’s largest customer,

encompassing more than 30 facilities. A Kaman customer service center

in Louisville receives orders electronically. The Louisville center processes

orders and coordinates with all Kaman account managers, who provide

customer service to fulfill the needs of each customer location. This

deepening relationship reflects a commitment to outstanding service and

innovation that began in the earliest days of Kaman Distribution. With more

than 100 National Account relationships, Kaman is a value-added partner

to many of North America’s largest and most demanding companies.


1993 1997

With the launch of a new

warehouse management

system, Kaman Distribution

is able to provide even better

service to customers while

enhancing productivity.

Reflecting a deep commitment

to improving operational

efficiency, Kaman Distribution

opens an 80,000 square

foot central warehouse in

Albany, NY, replacing three

smaller, less efficient northeast

warehouses that came to Kaman

through acquisitions.



TODAY Kaman Distribution’s commitment to continuous

improvement has reduced the footprint of distribution centers and

lowered staffing levels. Equally as important, increased quality is

evidenced by an accuracy rate of 99.982%. Innovations continue

to make Distribution a lean, nimble competitor, including random

storage, wireless bar coding, optimized floor space techniques and

cutting-edge supply chain strategies.

TOMORROW

As we commemorate 70 years of innovation, leadership and dedicated customer service, our focus will never stray from what is most important:

LEADERSHIPKAMAN CORPORATION AND SUBSIDIARIES

CORPORATE LEADERSHIP


Ronald M. GallaSenior Vice President and Chief Information Officer

Philip A. GoodrichSenior Vice President – Corporate Development

Shawn G. LisleSenior Vice President, General Counsel and Assistant Secretary

Robert D. StarrSenior Vice President and Chief Financial Officer

Gregory T. TroySenior Vice President – Human Resources and Chief Human Resources Officer

Jairaj ChetnaniVice President and Treasurer

Richard C. ForsbergVice President – Chief Ethics and Compliance Officer and Vice President – Contracts Management Kaman Aerospace Group

Michael J. LyonVice President – Tax

Michael J. MorneauVice President and Controller

Eric B. RemingtonVice President – Investor Relations

Richard S. Smith, Jr.Vice President, Deputy General Counsel and Secretary

John J. TedoneVice President – Finance Chief Accounting Officer

James G. CooganAssistant Vice President – SEC Compliance and External Reporting

Patricia C. GoldenbergAssistant Vice President and Assistant Treasurer

Thomas J. McNerneyAssistant Vice President – Internal Audit

Gary L. TongAssistant Vice President – Corporate Risk, Safety and Environmental Management

AEROSPACE LEADERSHIP

Gregory L. SteinerPresident – Kaman Aerospace Group and Executive Vice President – Kaman Corporation

Alphonse J. Lariviere, Jr.Division President Kaman Composite Structures

James C. Larwood, Jr.Division President Kaman Aerosystems

Nancy L‘EsperanceVice President – Human Resources Kaman Aerospace Group

Robert G. PatersonPresident Kamatics Corporation

Gerald C. RickettsPresident – Precision Products Division of Kaman Aerospace Corporation

John K. StockmanVice President – Finance Kaman Aerospace Group

Gary V. TenisonVice President –Marketing and Business Development Kaman Aerospace Group

Clifford A. WardVice President and General Manager Kaman Engineering Services

Patrick J. WheelerVice President – Strategic Initiatives Kaman Aerospace Group

William H. ZmyndakVice President and General Manager – Kaman Integrated Structures & Metallics

Robert G. ManaskieVice President and General Manager – Air Vehicles and MRO

Hermann MannschatzManaging Director RWG GmbH Germany

DISTRIBUTION LEADERSHIP

Steven J. SmidlerPresident – Kaman Industrial Technologies (KIT) and Executive Vice President – Kaman Corporation

Roger S. JorgensenSenior Vice President – Finance

Gary J. HaseleySenior Vice President and General Manager – Automation, Control and Energy

Patricia W. (Tribby) WarfieldSenior Vice President and General Manager – Fluid Power

Thomas A. WeihsmannSenior Vice President and General Manager – KIT

Joseph P. BertalliVice President Finance and Business Operations – Automation, Control and Energy

Jeffrey M. BrownVice President – KIT Northeast

Thomas M. CaputoVice President – Commercial Integration

Anthony L. ClarkVice President – KIT South

Carl A. ConlonVice President and Controller

Samuel G. CooperVice President – KIT North Central

Joe DujkaVice President – Finance and Business Operations – KIT

Tom R. HoltryVice President – KIT Intermountain/Pacific Northwest

Michael J. KellyVice President – National Accounts

Bryan K. LarsonVice President – Corporate Development

David H. MayerVice President – Marketing and Services

Michael J. PastoreVice President – Operations and ERP

Carmen M. RiveraVice President – Human Resources

Donald O. RolandVice President – Pricing, Process and Quality

Abraham D. SamaroVice President – KIT California

DIRECTORS

Neal J. KeatingChairman, President and Chief Executive Officer Kaman Corporation

Brian E. Barents 3,4

President and Chief Executive Officer, Retired Galaxy Aerospace Company, LP

E. Reeves Callaway III 3,4

Founder and Chief Executive Officer The Callaway Companies

Karen M. Garrison 1,4*

President – Business Services, Retired Pitney Bowes

A. William Higgins 3,4

Chairman, President and Chief Executive Officer, Retired CIRCOR International, Inc.

Eileen S. Kraus 1*,2

Lead Independent Director; Chairman, Retired Fleet Bank Connecticut

Scott E. Kuechle 2,4

Executive Vice President and Chief Financial Officer, Retired Goodrich Corporation

George E. Minnich 1,2*

Senior Vice President and Chief Financial Officer, Retired ITT Corporation

Thomas W. Rabaut 2,4

Operating Executive, The Carlyle Group

Richard J. Swift 1, 3*

Chairman, President and Chief Executive Officer, Retired Foster Wheeler, Ltd. and former Chairman, Financial Accounting Standards Advisory Council

DIRECTORS EMERITUS

Frank C. CarlucciJohn A. DiBiaggioEdwin A. HustonJohn B. Plott

STANDING COMMITTEE ASSIGNMENTS

1 Corporate Governance2 Audit3 Personnel and Compensation4 Finance* Denotes Chairmanship

CORPORATE HEADQUARTERSKaman Corporation 1332 Blue Hills Avenue Bloomfield, Connecticut 06002 (860) 243-7100

STOCK LISTINGKaman Corporation’s common stock is traded on the New York Stock Exchange under the symbol KAMN.

INVESTOR, MEDIA AND PUBLIC RELATIONS CONTACTEric B. Remington Vice President, Investor Relations (860) 243-6334 [email protected]

ANNUAL MEETINGThe Annual Meeting of Shareholders is scheduled to be held on Wednesday, April 15, 2015 at 9:00 am local time at the offices of the company, 1332 Blue Hills Avenue, Bloomfield, Connecticut, 06002.

TRANSFER AGENTComputershare P.O. Box 30170 College Station, TX 77842-3170 (866) 339-2742 www.computershare.com/investor

Overnight correspondence should be sent to:Computershare 211 Quality Circle, Suite 210 College Station, TX 77845

CORPORATE AND SHAREHOLDER INFORMATIONKaman Corporation and Subsidiaries

2015



70 YEARS OF

2014


IN OUR


(860) 243–7100

www.kaman.com

KA

MA

N C

OR

PO

RA

TIO

N A

NN

UA

L R

EP

OR

T 2

01

4

194

Documents

BREAKTHROUGHS.€¦ · control and automation products. The acquisition significantly enhances our fluid power and AC&E product platforms. B.W. Rogers is one of the largest and longest